System-build modular homes, not to be confused with manufactured homes, are almost twice as fast to build.  Costing less time and less money, they are popular not only within Great Denver real estate but in the Rocky Mountains where the construction season is cut short. 

Building systems are highly engineered methods of producing buildings or building components.  A modular home is one type of building system.  Homes begin as components designed, engineered, and assembled in an indoor controlled environment.  Under the system-built construction method, simultaneous construction of the foundation and first and second floors speeds up the finished product.  At a time coordinated with the building contractor, the final components are transported to the home site.

Production line methods result in superior quality.  Several factors contribute to the structural integrity.  They include better equipment, climate control, high-grade materials, tighter construction that withstands transport, and quality control.   All building codes and standards are observed during every step of the construction process.  In addition, it is nice to know that banks, lending institutions, and insurers do not differentiate between modular and site-built homes. 

The quality conscious and cost conscious buyer finds state-of-the-art construction technology and great amenities.  The computer age allows homeowners to analyze the best and most cost-effective ways to design and construct their homes, including options of a long list of interior and exterior design elements.  Thanks to new technology, homebuyers are able to purchase empty land lots and horse properties and, within two to three months, they are moving into the homes that they help design. 

According to a January 2009 article in The Denver Post by Margaret Jackson, at least one development company in the residential real-estate market here decided to shift to system-built homes selling for $350,000 versus pursuing their original plan to build homes in the $500,000 to $700,000 price range without compromising style.  The homes feature open stairwells, solid oak treads, maple kitchen cabinets, slab kitchen counters, and onyx countertops in the bathrooms.

For more information about real estate in the greater metro area, including farms and horse properties, call Michael Paul of Realty Oasis at (303) 268-6052.

Although prices for Denver Colorado real estate are down almost three percent, residents of Denver homes are doing relatively well.  The values of Denver Colorado properties have increased tremendously over the past 20 years so the long-term equation remains stable.  Within Denver, zip codes 80204, 80216, 80239, and 80246 registered price decreases over 20 percent in the last year.  Other parts of Denver CO real estate have registered price increases including zip codes 80210, 80211, 80212, 80220, and 80238.

According to the Loan Performance Home Price Index published by the First American CoreLogic, home prices across the United States looked to have deeper issues.  Prices fell 11.3 percent in the nation.  California, Arizona, Nevada, and Florida continue to see declines in home prices.  Metropolitan areas such as Las Vegas, Nevada at 25 percent, Miami, Florida at 27 percent, Oakland, California and Riverside, California at 28 percent and Los Angeles, California at 29 percent made up for the slight gains in other communities.

Texas, South Dakota, Vermont, and Mississippi actually experienced some price appreciation.  Prices were up in the Austin, Texas area 4 percent, Houston, Texas by 3.8 percent, San Antonio, Texas by 3 percent, and Dallas, Texas by 2 percent.  Texas is seeing a faster recovery than other portions of the country.

Something else is going right in Colorado.  The Mile High City has one of the fastest growing populations in North America.  Visitors return to experience the charm, character, and charisma as well as educational, cultural, sporting, and recreational activities.  Nestled at the base of the Rocky Mountains, the City enjoys relatively mild summer and winter climates.  Homes are located in unique neighborhoods steeped with 150 years of interesting history and interwoven corresponding Historic Districts and people from all walks of life mingle at parks, open spaces, boutiques, and pedestrian malls.

For more information about farms, horse properties, and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

The 6,073 square-foot home enjoys a 43,037 square foot home site in Manor Ridge, the only gated community in Ken Caryl Valley real estate.  The professional landscaping is fenced and directly accesses open space.  Spacious and open, this wonderful home features an expansive sunny living room, remodeled kitchen, master bedroom on its own level, fully finished walk-out basement, six bedrooms, five bathrooms, main floor study, a 3-car garage.  Recently painted and carpeted, the home also features hardwood floors.  It is air conditioned.

Ken Caryl Valley with a population of 31,000 includes the large Ken Caryl Ranch master-planned community with over 10,000 residents.  There are more than twenty miles of trails for hiking, biking, and horseback riding wind through the nearby Dakota Hogback.  In addition, this is habitat for visiting coyotes, grouse, elk, deer, and turkey.  Once in a while, black bears wander down the mountain.  The community offers an Equestrian Center, playgrounds, softball diamonds, soccer fields, an inline hockey rink, volleyball courts, greenbelts, and parks.

The larger Ken Caryl community is a census-designated place in Jefferson County and boasts an interesting history.  At one time, the property was a famous Hereford cattle ranch.  Industrialist and newspaper tycoon John Shaffer lived here in the beginning of the 1900s and named the property for his sons Kent and Carroll.  Shaffer’s lavish home, the Manor House, is now a fine restaurant.  The Ken Caryl Ranch Historical Society documents much more history including the archaeological findings from the Plains Indians and the travels of gold miners.

Students are served by the top-rated JeffCo School District at Bradford Primary and intermediate, Deer Creek Junior High, and Chatfield Senior High Schools.

For more information about farms, horse properties, and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

For several reasons, there is improvement in the housing equation.  The number of homes in Denver Colorado that are available for sale declined 20 percent between the end of summers 2007 and 2008.  Since the number of homes sold decreased from 5,123 to 4,542, we did not just sell more real estate in Denver.   In fact many homeowners simply decided not to put their homes on the market.

More good news comes from the reduction in foreclosures of Denver CO homes and mortgages along with fewer delinquencies.  By the end of August 2007, Colorado had about 6,550 foreclosure filings compared to approximately 4,700 by August 2008.

Since January 2005, the rate of Denver homes sold has ranged from about 12 percent to 22 percent.  During summer 2008, the rate reached 20 percent, harking back to the summer of 2005 when the inventory in the Denver metro area was reduced by a record-breaking 22 percent. 

According to Realtor.org, the entire nation saw a 7-percent decrease in inventory.  At the end of August 2008, the United States had about 10.4 months of inventory on hand, down from 10.9 months in July 2008.  Nationwide, overall new construction starts declined August 2008.  But in the western part, housing starts increased 10.8 percent.

Another plain and simple reason for the improvement is that many of us have learned some necessary lessons during the housing crisis.  Buyers, sellers, lenders, and realtors are better informed than they were a few years ago.  Many are more cautious.  But smart buyers are taking advantage of the market while it is dipping a bit to move forward with their investment goals.  It may take a few years for the marketplace to see the dramatic changes that we saw in the last five years, but prices will keep rising in the long run.

Real estate continues to be a good, practical investment when we buy for the right reasons, in the right places, and for the right price.  Buyers are into their home investments for the long-term benefits, more so than the house flippers from a few years ago.  For more information about horse properties and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

The Denver Business Journal on September 9, 2008 looked at the Metrolist Inc. data and remarked, “The average selling price of single-family homes and condominiums in metro Denver rose in August from the previous month, but fell from a year ago.”  More specifically, single-family homes sold for an average of $284,531 this August and during August 2007 they averaged something like $316,000.

Generally speaking, it is best to look at median home prices instead of the average.  The median price is the price of a home in the middle of the scale of sold properties.  Half sold for more and half sold for less than that figure.  Just one $20-million estate or several $5-million Colorado horse properties will readily skew those averages.

Good thing that our homes in Denver are long-term investments. Looking back over several years, however, median Denver home prices are holding their own.  During the decade of the 1990s, the median home price in Denver grew from $100,000 to the $200,000s.  Not a bad investment.  By August 2005 the median price was $220,000, by August 2006 $228,000, by August 2007 $239,000.  Several articles posted online report declines in prices during the same period of time, a natural sine wave fluctuation.  When we keep our horses in step for the long-term, we just ride through the storm without panic.

The condominium market did a little better over the last year as more people decided to purchase properties at lower price points.  That’s not to say that there aren’t some very pricey condos around here but rather that builders have needed to lower prices to move inventory.  Metrolist reported that the supply of homes has finally dropped in the last year from 30,827 to under 25,000—another bit of good news for sellers.

For more information about horse properties and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

The average sales price in August 2008 for single-family Denver CO real estate was tracked as follows:  Denver $245,753, Aurora $167,069, Englewood $293,399, Highlands Ranch $336,810, Littleton $295,640, Lone Tree $710,768, and Parker $322,258.  In most of these communities, Denver CO homes are selling to smart buyers at a slower pace than a year ago.  However, Aurora and Highlands Ranch real estate actually sold more units August 2008 than in 2007.

Below are the total numbers for existing home sales from January 1 through August 31, 2008:  Denver 8977, Aurora 4,923, Englewood 483, Highlands Ranch 1,211, Littleton 1,915, Lone Tree 123, and Parker 1,204.  Quite a few families are taking advantage of the positive aspects of today’s market.

Something must be going right in our communities.  Even though unemployment rates have been edging up in Colorado this year, Coloradoans have a history of morphing to meet the changing needs of the hour.  Some who came out for the gold rush decided to build farms and Colorado horse properties and Colorado ranches.  Traders settled down into mercantile stores and other businesses, one community applied to open a university, and many built places of interest to attract tourists.  We’ve landed several government offices and military training operations.  Our citizens creatively moved into the high-tech industries, into transportation and recreation.  Our creative communities can meet to solve problems and challenges.  After all, who hasn’t moved to this state to find excitement and a better quality of life?

So we see that in our state this year, the number of jobs has increased—in spite of everything going on.  Jobs have increased in Boulder-Longmont County and we are waiting to see just how the rest of the counties in our metropolitan area discover new ways to serve the sectors of need in today’s world during this challenging time.

For more information about horse properties and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.